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Gold Technical Analysis (2016.03.30)

Gold markets initially fell during the course of the day on Tuesday, but found enough support to turn things around below the $1220 handle, and as a result it’s very likely that the market will rally to the $1270 level above. On top of that, we should continue to go higher, and perhaps break out to the upside given enough time. Gold markets will be given plenty of reason to rally due to the fact that the Federal Reserve has step away from at least a few interest-rate hikes. We have no interest whatsoever in selling this market.

Gold Chart

XAUUSDH1

Source:Fxempire

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